We can expect a huge attack on EOS

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Emin Gun Sirer, a science professor from Cornell University has predicted that EOS might be a victim of an enormous attack. From recent series of tweets he said: “I’m calling it: there will be a massive exchange hack within the next year, taking advantage of an EOS vulnerability. That exchange will lose its hot wallet. Hackers will send the proceeds to downstream exchanges where they will trade into other coins”

EOS completed a record-breaking ICO this month with collected $4 billion, yet thanks to unexpected development issues, they have suffered from a full service outage over the past weekend which has expanded into lack of confidence towards the project and the crypto market as a whole. Developers worked hard trying to fix these bugs, and came up with a solution that granted the platform to continue its process. But Emin Gun Sirer said that that’s only temporary.

“You can’t incrementally patch your way to correctness. Testnets help find bugs but lack of bugs in testnet doesn’t provide any assurance of correctness. In the same vein, you can’t start out with some bricks, beams and cables over a body of water, patch the holes where cars fall into the ocean, and end up with a load-bearing bridge.”

EOS has received a lot of FUD since the finalization of their ICO stage. Conspiracies involve project scam possibilities, claims of unfair token distribution between their team members, but the most loudest of them all was stating that EOS is centralized. This is explained in a Medium blog post by Crypto Peter Griffin: “Every year there is a maximal inflation of 5% to pay the block producers, which equals at the current price of EOS $332,476,257! All of this money goes directly into the pockets of the (probably not much changing) 21 block producers and grants them with even more power and stake in the network”, he states. To this opinion there are just as many believers as disbelievers.

At this point, if you have invested in EOS, I would suggest doing a little more research, as there is a lot of uncertainty.